Elon Musk Net Worth 2023: He is the richest businessman with a net worth of $219 Billion. In this post find about his life, Net Worth, Biography, Age, Height, Family, wife, and Career earning. Elon Musk cofounded six companies including electric car maker Tesla, rocket producer SpaceX and tunneling startup Boring Company.
|Net Worth:||$140 Billion|
|Date of Birth:||Jun 28, 1971 (51 years old)|
|Place of Birth:||Pretoria|
|Height:||6 ft 2 in (1.88 m)|
|Profession:||Aerospace Engineer, Engineer, Entrepreneur, Investor, Designer, Businessperson, Inventor, Film Producer|
What is Elon Musk’s Net Worth?
Musk is a Canadian-American businessman, inventor, and investor. Elon Musk is $140 billion rich. Elon Musk has made the majority of his income as Tesla Motors’ CEO. He’s also CEO of SpaceX and CTO of SolarCity. He’s the richest man in history and the world.
Elon Musk controls about 24% of Tesla’s shares and 43% of SpaceX. Tesla’s market cap hit $1 trillion in 2021. SpaceX raised $100 billion in May. First time Elon’s net worth topped $300 billion.
Elon Musk looks ahead of the curve. He taught himself coding as a child. By age 12, he coded and sold Blastar. He attended Queen’s University in Ontario and the Wharton School at Penn for business and physics degrees. He went to Stanford for a Ph.D. in physics but decided school wasn’t useful. He quit Stanford two days into the first semester to pursue his career. Zip2 was his first venture, started alongside his brother Kimbal. Their principal product was an online city guide for newspapers. The brothers sold Zip2 to Compaq for $307 million and $34 million in stock options in 1999. He started X.com, an email payment company. He bought Confinity, the company that ran PayPal. Musk consolidated everything into PayPal. Since then, he’s launched new enterprises like SpaceX and Tesla Motors, which makes electric sports vehicles. Elon bought Twitter in 2022 for $44 billion.
Elon Musk FACTS
- Sold Zip2 to Compaq in 1999 for $340 million
- Invested in X.com with his fortune
- Paypal is X.com. EBay sold Paypal in 2002 for $1.5b.
- Owns 48% of SpaceX, valued around $46 billion
- 22% Tesla
- Net worth rose $142 billion in 2020.
- Once said he’s “cash poor” and in debt $500 million
- 100 million in real estate
- Sold six LA homes in 2020
Elon Musk Worth History
- On January 1, 2020, Elon’s net worth was $28 billion. He had $170 billion by 2020.
- 15 billion of Elon’s $80 billion net worth came from SpaceX and $65 billion from Tesla on July 13, 2020.
- Elon’s net worth surpassed $90 billion in August 2020 due to two causes. First, Tesla shares touched $1,900 mid-August. The company’s market cap was $350 billion then. Elon’s 20% stake was $70 billion. SpaceX’s valuation increased on August 18, 2020. SpaceX’s private valuation rose to $46 billion from $36 billion. At a $46 billion valuation, Elon’s 48% ownership adds $22 billion in pre-tax wealth.
- Elon’s net worth reached $100 billion on Nov. 17, 2020. He surpassed Mark Zuckerberg to become the world’s third-richest person.
- On Nov. 24, 2020, Elon’s net worth reached $128 billion. He surpassed Bill Gates to become the world’s second-richest person. He was $54 billion away from Jeff Bezos’ $184 billion net worth, and his net worth has climbed $100 billion since January 1, 2020.
- On January 7, 2021, Elon’s net worth hit $195 billion. Elon became the richest person in the world on this day.
- On January 8, 2021, Elon’s net worth was $210 billion, up from $170 billion.
- In 2021, when Tesla’s market cap exceeded $1 trillion and SpaceX was $100 billion, Elon’s net worth was $300 billion.
- When Tesla’s market valuation surpassed $1.2 trillion in 2021, Elon Musk’s net worth was $335 billion.
- Elon Musk’s $165 billion net worth was eclipsed by Bernard Arnault’s $167 billion on Dec. 13, 2022.
Elon Musk Tesla Salary
Elon Musk earns no salary as Tesla CEO. He has an interesting, profitable compensation plan connected to market cap goals. At the plan, Tesla was worth $50 billion. Twelve $50 billion market cap milestones exist. Elon hit every milestone and got the full $100 billion bonus. After the Board of Directors confirms a milestone, shares are released quarterly.
Elon Musk Ages
Musk was born June 28, 1971 in South Africa. Musk taught himself to program on his first computer at age 10. When he was 12, he sold Blaster, a game he made. In 1989, he moved to Canada to attend Queen’s University but left in 1992 to study at Penn. Musk has an economics degree, a physics degree, and a PhD in energy physics. He quit Stanford to join the internet boom.
Elon Musk Success
Musk’s initial company, Zip2, was a city guide. Compaq bought Zip2 in 1999 for $307 million in cash and $34 million in stock options. Musk cofounded X.com, an online financial/payments company, in 1999. In 2002, eBay bought PayPal for $1.5 billion in stock after acquiring X.com the following year.
Musk founded SpaceX in 2002 to develop commercial spaceships. By 2008, SpaceX was well-established and NASA awarded the company the contract to handle cargo transport for the International Space Station, with intentions for astronaut transport in the future.
Next was Tesla Motors, which makes cheap, mass-market electric cars. Martin Eberhard and Marc Tarpenning co-founded Tesla. Elon, Ian Wright, and J.B. Straubel were the initial employees and co-founders.
Tesla Motors announced its IPO in June 2010, raising $226 million with Daimler and Toyota as investors. In 2012, Musk and SpaceX sent an unmanned Falcon 9 rocket into orbit. In 2013, he proposed the Hyperloop, which would travel at over 700 mph between major cities. Hyperloop would use tubes, not railroads. Musk thinks Hyperloop might take 7 to 10 years to build, test, and use.
Elon Musk Musk’s wealth
Musk owns 43% of SpaceX and 24% of Tesla.
Musk said in a 2019 deposition that he is cash-poor and that 99% of his fortune is in Tesla and SpaceX. The complaint disclosed Musk’s $56,380 Tesla basic salary. He usually declines the salary. Musk owed Morgan Stanley and Goldman Sachs $500 million when he was sued. At least $60 million of his Morgan Stanley debt was house mortgage-related. He sold most of his homes and repaid his mortgage.
He apparently used all his liquid cash from past business transactions to create SpaceX.
Elon Musk Tesla Compensation Plan
In January 2018, Tesla revealed a compensation plan for Musk worth $100 billion. The plan called for Musk to receive $100 billion in 12-tranches over a decade. First options given as Tesla’s market cap hits $100 billion (roughly double the value when the plan was announced). Elon received another tranche every time the company’s market cap rose $50 billion.
If he didn’t meet any of the 12 tranches, he got nothing.
Within three years, Elon unlocked all 12 compensation plan tranches as Tesla’s market valuation soared past $1 trillion in October 2021.
Elon Musk Life
Elon married twice to Talulah Riley. He was married to Canadian author Justine Wilson from 2000-2008. They have 5 boys. He has dated Amber Heard and Grimes. Grimes and Elon welcomed a son in May 2020 named X A-Xii. In 2021, they had another kid via surrogate.
Late in 2021, Elon welcomed twins born to a Neuralink executive.
He has 10 kids as of now.
Elon Musk reportedly had an affair with Sergey Brin’s wife in December 2021. The romance apparently drove Sergey to divorce Nicole Shanahan, his wife of four years. Sergey had been Musk’s biggest supporter. He was one of the original Tesla investors.
Elon Musk Realty Holdings
Elon possessed $100 million worth of real estate in California. In Hillsborough, he still owns a 100-year-old, 16,000-square-foot home on 50 acres. He bought this mansion for $23.364 million in 2017.
He formerly had six homes in Bel-Air, Los Angeles. He bought a 20,000-square-foot home for $17 million in 2012, a 7,000-square-foot home for $20 million in 2015, and a 9,300-square-foot home for $24.25 million in 2016. Elon announced in 2020 that he would sell all of his things, starting with his LA homes. He sold each house as promised. In December 2020, he sold four homes at once.